Whether it’s a group of colleagues, a mentor, or a business consultant that you are paying; I feel it’s an excellent idea to round up some seasoned professionals that can offer you advice for your business’ needs. Whether you do it informally or set up actual board meetings with a team of advisers; there are various ways to go about getting guidance.

What’s an “advisory team”: “An advisory team is considered a group of industry executives and professionals that is appointed by a company for the purpose of offering advice and support on a wide range of issues that are relevant to the organization.”
Source: www.boardseat.com.

The benefits of building this team are to:
– provide connections;
– share their expertise in a specific area (finance, marketing, accounting, etc.);
– raise your status and prestige (by being affiliated with them); and
– offer valuable business advice.

Consider the following professionals to have on your side:
– Lawyer
– Accountant
– Financial Consultant
– Marketing Consultant
– Sales Associate
– Technical Consultant
– Designer
– Publicist

Start researching by asking around and networking. Getting referrals from friends, family, and colleagues helps you know if these consultants can really deliver what they promise. You’ll know for sure, since they’ve already been tested out.
Tilt your Columbo hat to the side and start playing detective. 🙂 Here are some other things you should try to find out:
1. Are they from a large company or a small boutique shop? You can usually get better thinking from a small organization then at a large shop with a departmentalized chain of command.
2. Do they understand entrepreneurial business?
3. Do they have a genuine enthusiasm for solving your issues?
4. What’s their track record? Asking for a list of clients isn’t enough, find out what they helped clients accomplish.
5. Do they have a unique way of thinking? It’s always good to have someone who can stretch the limits of your organization with some out of box thinking.
6. Will they offer a competitive price?
7. Okay Columbo, so you might not have time to sit in front of their office with a video camera watching their every move. LOL. In this case, just go to www.google.com, type in their name or company name and see what comes up. You’d be surprised what rave reviews or um…what dirt that you can dig up. But you didn’t hear it from me!
8. Do you feel comfortable with them? Your personalities should be compatible, since you’ll be dealing with this person on a regular basis.
9. Test Them Out: You’ve done all your research and still not sure? Give them a small project to see how they do. This way it won’t burn a hole in your wallet and you’ll see just how much gusto they truly have. If it’s a success you’ve found a keeper!

Start Building the Relationship:
– Explain your expectations up front.
– Share your vision with them. Let them know what you are trying to build.
– Involve them and keep them in the loop of any changes.
– Don’t be afraid to sound dumb. Some folks get intimidated and don’t want to ask “the experts” questions that should be asked. You’ll be missing out if you wait for a slip up to happen, a slip up that could have been avoided if you would have asked your ‘dumb’ question!
– Set up your own round table: When possible, set up regular meetings (maybe monthly or quarterly.) One adviser might have a suggestion that others have overlooked. It’s also great networking for them to get to know each other.
– Refer your colleagues to them. I’m sure they’ll return the favor.

You can’t do it ALL alone, so don’t be afraid to seek help. Just remember to be cautious, inquisitive and persistent. Success will follow. Good luck!

Here are some related links to check out:
How To Find a Business Mentor
Small Business Administration
Find a Lawyer
Creating an Advisory Board